Hyperliquid Price Forecast – Strong Demand Holds HYPE Near $36 as Bulls Eye $42 Upside

Highlights:

• HYPE holds steady near $36, even as trading volumes jump, signalling strong underlying activity.
• Surging Real World Assets trading boosts Hyperliquid’s growth outlook.
• A breakout above $36.93 could target $42.08, while a drop below $35.13 could see HYPE drop to $30.31.

Hyperliquid (HYPE) is little changed today, reflecting the relative calm across the market intraday. When going to press, HYPE was trading at $36.49, down by 2.33% in the day. However, Hyperliquid trading volumes are relatively higher than most cryptocurrencies during the day.

When writing, HYPE trading volumes stood at $179.8 million, up by 15% in the day. The rising volumes could be indicative of the evolving nature of the Hyperliquid exchange and, by extension, HYPE, the cryptocurrency that underpins the entire ecosystem. 

Surge In RWAs Trading Supporting Hyperliquid’s Price

Latest data shows that Real World Assets now dominate trading on Hyperliquid. Open interest in Real World Assets on Hyperliquid now stands at $2.3 billion. This is driven by assets such as oil and gold, which now regularly outpace cryptocurrency trading on Hyperliquid.

RWA trading on Hyperliquid continues to reach new ATHs week after week, surpassing $2.3B in open interest pic.twitter.com/R9uDCAx3fo

— Hyperliquid (@HyperliquidX) April 6, 2026

As the narrative around tokenised real-world assets gets stronger, Hyperliquid could see even more interest from traders. This is likely to trigger more upside for HYPE going into the short to medium term. That’s because HYPE is the transaction medium on Hyperliquid.

As such, the more people use the exchange to trade both cryptocurrencies and real-world assets, the more HYPE’s value could rocket. HYPE has already proven to outperform the broader altcoin market during gains. Even during corrections, HYPE is holding its value better than most altcoins, which can be attributed to strong underlying demand. 

HYPE Holding Strong Despite Hyperlabs Distributing Tokens

The strong demand for Hyperliquid is evident in the fact that Hyperlabs, the organization behind HYPE, has distributed 333,335 HYPE to 7 wallets, and the price has remained stable. This shows that investors are not worried about such a distribution triggering a dump if Hyperlabs decides to sell. Such a level of investor confidence is indicative of expectations that HYPE will do well in the long term as the exchange’s adoption grows.

333,335 $HYPE tokens from HyperLabs were distributed to 7 wallets, with each receiving between 33,335 and 50,000 $HYPE pic.twitter.com/0wt4Q3bAkT

— Hyperliquid News (@HyperliquidNews) April 6, 2026

Macro Trends Keeping HYPE In Narrow Range Intraday

However, like the rest of the market, Hyperliquid’s lack of price action intraday is due to macro factors. In the last 24 hours, investors have been watching developments in the Middle East.

Reports indicate that multiple regional powers are currently trying to broker a ceasefire that could also pave the way for an end to the war. If the deal becomes a reality, a rally could follow, sending Hyperliquid to new highs in the short to medium term. That’s because peace would swing sentiment back into risk-on mode. 

Hyperliquid, a risk-on asset that tends to outperform in the cryptocurrency space, could see FOMO push it to new highs. However, if the ceasefire fails and the US proceeds to flatten Iranian energy infrastructure, a selloff could follow across the markets. In such a case, HYPE could see some correction as well.

However, because volatility tends to spike in times of uncertainty, the use of Hyperliquid could surge. This could keep HYPE’s value intact even if the rest of the market experiences a sharp correction. Overall, there is more potential for HYPE upside than downside in the foreseeable future. 

Technical Analysis – Hyperliquid Price Making Lower Highs In Bearish Channel

While HYPE has made some gains over the past week, it is overall in a bear channel and forming lower highs. If bulls are strong enough to push HYPE through the $36.93 mult-day resistance, it would mean that the bearish channel is broken. In such a case, HYPE could rebound to $42.08 in the short term.

However, if bulls fail at $36.93 and HYPE drops through $35.13, a correction to $30.31 could follow. Which of these scenarios plays out will depend on events in the Middle East within the day.

If the US embarks on a large-scale bombing campaign of Iranian energy infrastructure, markets could drop, and HYPE could drop to $30.31. However, if there is a ceasefire and markets rally across the board, HYPE could rocket to $42.08 in the short term.